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David Novack, President and COO of Dynavax Technologies Corp (NASDAQ:DVAX), a biopharmaceutical company with a market capitalization of $1.68 billion and an "GREAT" financial health rating according to InvestingPro, recently executed significant stock transactions, according to a recent SEC filing. On March 24, Novack sold 10,000 shares of common stock at $14 per share, totaling $140,000. This transaction was part of a 10b5-1 trading plan adopted in December 2024.
In addition to the sale, Novack exercised stock options to acquire 10,000 shares at a price of $6.805 per share. The total value of this acquisition was $68,050. Following these transactions, Novack holds 8,078 shares directly.
These transactions are part of Novack’s broader financial strategy as an executive at Dynavax, a biopharmaceutical company based in Emeryville, California.
In other recent news, Dynavax Technologies reported its fourth-quarter 2024 earnings, revealing an EPS of $0.05, which exceeded the forecast of $0.04, though the company missed its revenue forecast, reporting $71.1 million against an expected $72.44 million. Despite the revenue miss, Dynavax’s HEPLISAV-B sales reached record levels with a 39% year-over-year increase, contributing to full-year net sales of $268 million, a 26% increase from the previous year. H.C. Wainwright analyst Edward White maintained a Buy rating on Dynavax with a $31 price target, while JMP Securities’ Roy Buchanan raised the price target to $33, maintaining a Market Perform rating. Dynavax also continues its $200 million share repurchase program, having completed a $100 million accelerated share repurchase transaction. The company’s guidance for HEPLISAV-B in 2025 projects revenues between $305 million and $325 million, slightly below some expectations, but the first quarter of 2025 has reportedly begun strongly. In other company news, Recursion announced the appointment of Namandjé Bumpus, Ph.D., and Elaine Sun to its Board of Directors, aiming to enhance strategic leadership as the company advances its drug discovery efforts.
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